Many Analysts See No End
In Sight to H&M's Gains

By

Jan Lindroth AP-Dow Jones News Service

Updated Nov. 11, 1996 12:01 a.m. ET

Hennes & Mauritz AB's shares may still hold some gains even though they've risen 138% this year, making the fashion retailer by far the best-performing issue on the Stockholm stock exchange's main list.

With a price/earnings ratio of around 32, H&M is correctly valued, some analysts believe. And they're still bullish.